Illinois Municipal Retirement Fund, Oak Brook, made two new commitments to real estate funds totaling up to $150 million.
The $54.9 billion pension fund's board on Friday approved commitments of up to $100 million to value-added fund Artemis Real Estate Partners Fund IV and up to $50 million to debt fund Basis Investment Group Fund II, spokesman John Krupa said.
IMRF committed up to $50 million to Artemis Real Estate Partners Healthcare Fund II earlier this year and has made prior commitments totaling $5 million to Basis Investment Group through custom separate accounts.
As of Sept. 30, the pension fund's actual allocation to real estate was 6.6%; the target is 10%.
Both firms qualify as minority- or women-owned business enterprise firms under the Illinois Pension Code. As of Sept. 30, the pension fund had 22.1% of its total portfolio in MWBE firms.
